The 40th Annual Japan Record Awards took place on December 31, 1998, starting at 6:30PM JST. The primary ceremonies were televised in Japan on TBS.

• Japan Record Award:
  • Tetsuya Komuro (producer) & globe for "Wanna Be A Dreammaker"
• Best Vocalist:
  • Ichiro Toba
• Best New Artist:
  • Morning Musume
• Best Album:
  • Every Little Thing for "Time to Destination"
• Special Award:
  • Céline Dion
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• Official Website